Thursday, September 17, 2020
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Getting pre-approved for a mortgage is a great place to start when buying a home, but if you want your offer to stand out to sellers, ask for the Prosperity Buyer Advantage.
Buying a home? Get a step ahead with the Prosperity Buyer AdvantageTM
Obtaining a mortgage preliminary approval is a great place to begin when buying a home. But if you want your home purchase offer to stand out to sellers, ask for the Prosperity Buyer Advantage.1
By electing to participate, you can get much of the home financing process out of the way and obtain a Commitment Letter before you even begin searching for a home.
What are the benefits?
Complimentary - Choosing to participate costs you nothing additional.
Distinguished - A Commitment Letter can set your home purchase offer apart from other offers a seller maybe considering.
Smooth - With much of the home financing process completed up-front, additional requirements or conditions can be identified to help prevent last-minute issues.
Flexible - You may have the option of being more flexible with your closing date and also help ensure an on-time closing.
And ask about the Prosperity Buyer Advantage FASTRACK!
We are excited to offer Prosperity Buyer Advantage FASTRACK, which features expedited processing and underwriting for certain loan products.2 In a fast-paced real estate market, home buyers often need quick answers about mortgage financing, and FASTRACK can accommodate!
To use FASTRACK, clients will be asked to provide these documents at the time of loan application:
Don't waste time during the home financing process. Ask for the Prosperity Buyer Advantage!
1. Prosperity Buyer Advantage is not a loan approval.A Commitment Letter is based on information and documentation provided by you and a review of your credit report. The interest rate and type of mortgage used to approve you for a specified loan amount is subject to change, which may also change the terms of approval. The interest rate cannot be locked until your offer to purchase a property has been accepted. If the interest rate used for credit approval has changed, you may need to re-qualify. Information provided by you is subject to review and all other loan conditions must be met. After you have chosen a home and your offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title commitment. Additional documentation may be required.
2. Bond loans, USDA loans, renovation loans and non-delegated loans do not qualify for Prosperity Buyer Advantage Fastrack. Eligible borrowers must have a FICO credit score of 640 or greater, no bankruptcies and no foreclosures.
We understand rising interest rates are a concern while searching for a home, but our Lock, Shop & Home program may be able to help by locking in your interest rate before finding a home.
Submit your home loan application and lock in your interest rate with the Prosperity Buyer AdvantageTM Lock, Shop & Home program!
At Prosperity Home Mortgage, LLC, we understand searching for a new home often takes time, which can add stress to the home buying process if rising interest rates or market volatility are a concern while you shop.
Good news! The Prosperity Buyer Advantage Lock, Shop & Home program may be able to help! Eligible home buyers who choose to participate in the Prosperity Buyer Advantage program1 may also have the opportunity to lock in an interest rate before finding a home.
Here are a few features of Lock, Shop & Home!
• No property address is needed at the time of application and rate lock.
• Lock an interest rate up to 90 days.2
• Conforming loan amounts available up to $484,350 and high balance loan
amounts available up to $726,525.3
• May be used with conventional or government fixed rate loan programs.4
For more information:
1. Prosperity Buyer Advantage is not a loan approval. Ask your mortgage consultant for details about Prosperity Buyer Advantage. A Commitment Letter is based on information and documentation provided by you and a review of your credit report. The interest rate and type of mortgage used to approve you for a specified loan amount is subject to change, which may also change the terms of approval. If the interest rate used for credit approval has changed, you may need to re-qualify. Information provided by you is subject to review and all other loan conditions must be met. After you have chosen a home and your offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title
commitment. Additional documentation may be required.
2. Additional fees may apply.
3. $726,525 maximum loan amount is available in high balance areas only. Contact your mortgage consultant for details.
4. Lock, Shop & Home program is not available for bond, jumbo, or renovation loan programs.
XLR8 is an expedited mortgage approval process designed to allow us to verify a borrowers’ credit, assets and income/employment with minimal loan documentation.
What is XLR8? The Future of Mortgage Banking
XLR8 is an expedited mortgage approval process designed to allow us to verify a borrowers1 credit, assets and income / employmet with minimal loan documentation. Borrowers simply complete a digital loan application via our website or mobile app and connect their bank accounts and employer via a secure portal.
In a matter of minutes, we may be able to validate credit, income / employment and assets electronically and issue a XLR8 commitment letter. Don't let financing scare your clients, XLR8 them insead!
Income / Employment APPROVED
Advantages of XLR8:
1. The XLR8 mortgage program is available on conforming, conventional loans only. Contact your mortgage consultant for more information.
RAPID CLOSE is Prosperity's trusted platform for closing loans fast. Powered by Notarize, RAPID CLOSE allows borrowers to sign most of their closing documents online and on the go from their smartphone, tablet or computer.
You may qualify for up to $2,500 in down payment and/or closing cost assistance!
We understand that the expense of a down payment and closing costs can present a challenge for many home buyers. That's why we are introducing BorrowSmart, a new loan program designed to help customers purchase a home with less money out-of-pocket.
Check out the features of BorrowSmart, and let’s find out if you qualify today!
Other restrictions apply. Not all borrowers will qualify. Speak to a mortgage consultant for additional information. BorrowSmart is not available in Washington, D.C. Low down payment options may not be the best options for all borrowers. Consult your mortgage consultant to review potential loan scenarios and financing options to determine the home loan that is right for you.
Let us help you reach your real estate investment goals with a variety of different programs.
Does your overall financial investment picture include real estate?
Whether you are new to real estate investing or a seasoned investor, we have purchase and refinance options that may help meet your financial goals.
Conforming Fixed-Rate Investment Loans:
High Balance Fixed-Rate Investment Loans:
Jumbo Fixed-Rate & Adjustable Rate Investment Loans:
House-to-Home Renovation Loan Program:
Prosperity Home Mortgage, LLC, dba DFW Texas Mortgage, Prosperity Home Mortgage, LLC dba Edina Realty Mortgage, Prosperity Home Mortgage, LLC dba FM Lending Services, and Prosperity Home Mortgage, LLC dba Long Mortgage Company are not financial advisors, nor are they offering Investment advice. Please consult a financial advisor to determine if real estate investing is right for you.
Contribute to the revitalization of your community while becoming a homeowner.
As a local lender, we understand the importance of serving those who help improve the communities in which we all work and live.
If you are a law enforcement officer, pre-kindergarten – 12th grade teacher, firefighter or emergency medical technician, you may be eligible to participate in the revitalization of your community while also becoming a homeowner through the U.S. Department of Housing and Urban Development (HUD) Good Neighbor Next Door program.
Highlights of Good Neighbor Next Door:
Program requirements for buyers:
Some and/or all qualifying criteria may be set by independent third party program sponsors.
1. Eligible Single Family homes located in revitalization areas are listed exclusively for sale through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for seven days.
The number of properties available is limited and list of available properties changes weekly. Check listings for eligible properties in your state at www.hudhomestore.com.
2. Borrowers may not own any property at time offer is submitted and for 1 year prior to that date.
3. No interest or payments are required on the 2nd mortgage provided the three-year occupancy requirement is fulfilled.
Planning your wedding or just married? Congratulations! If you’ve decided the next step in your life together will be buying a home, we have multiple loan programs with low down payment options available.
Planning your wedding or just married? Congratulations!
If you’ve decided the next step in your life together will be buying a home, we have multiple loan programs with low down payment options available, which may allow the use of gift funds toward your down payment, closing costs or reserves. So friends and family can help give you something you really want - money toward your first home purchase!
Already deposited your wedding gift funds?
Here is the documentation you’ll be asked to provide:
Haven’t deposted your wedding gift funds yet?
You may be asked to provide this additional documentation:
Restrictions may apply. Wedding gift funds must be on deposit in a borrower’s account within 60 days of the marriage license or certificate. The 60 days can be either 60 days prior to or 60 days after the date on the marriage license or certificate.
Thursday, September 17, 2020
Friday, September 11, 2020
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